In the workers' compensation space, not only have claim costs increased because of medical issues, but the landscape has also become more complex. Claim costs have skyrocketed, adjusters jobs have become more complicated, litigation is more prevalent, regulatory demands have increased, and the industry is looking for ways to get things under control and improve outcomes.

One of the most serious issues facing claims departments is the ability to identify and control large losses. With new technological advances, predictive analytics can now offer a powerful platform to identify the correct course of action for each claim right from the start.

Robert Lewis is president of ISO Claims Partners, a leading provider of compliance services for many of the world’s largest insurers, third-party administrators, and Fortune 1000 companies. His primary focus is on strategic initiatives and product innovations.